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August 02, 2015 7:37 PM ET

Diversified Consumer Services

Company Overview of 4393074 Canada Inc.

Company Overview

4393074 Canada Inc. provides weight loss and management programs and nutritional support products in North America. The company offers personal health coaching services. It provides a line of vitamins, minerals, and wellness products. The company also offers franchise business opportunity services to operate its weight loss centers. 4393074 Canada Inc. was formerly known as Herbal Magic Inc. and changed its name to 4393074 Canada Inc. in August 2014. The company was founded in 1996 and is based in Toronto, Canada. As of July, 11 2014, 4393074 Canada Inc. is under liquidation.

1867 Yonge Street

Suite 700

Toronto, ON M4S 1Y5

Canada

Founded in 1996

Phone:

416-487-7009

Fax:

416-487-4569

Key Executives for 4393074 Canada Inc.

Chief Financial Officer
Compensation as of Fiscal Year 2015.

4393074 Canada Inc. Key Developments

Herbal Magic May Be Acquired By The Private Equity Firm

Herbal Magic Inc. filed for bankruptcy protection in July 2014, owing creditors more than $77 million. Now, it has a tentative deal to be acquired by the private equity firm founded by Bay Street financier Steven Hudson, Chairman of Herbal Magic and an investor in the ailing chain. On July 25, 2014, the Ontario Superior Court of Justice approved the sale, which is expected to close next week. It did not disclose the purchase price. “Failing the closing of the sale transaction before the end of July, 2014, Herbal Magic will have no cash to fund its business and will have to cease operations before the end of August,” a court filing says. Hudson is not referred to by name in the court documents, but rather as the Chairman of Herbal Magic’s Board of Directors and the “inside bidder.” But “to preserve the integrity of the sales process, procedures were put in place to ensure that the inside bidder (including the parties with an interest therein) did not receive any information not available to the other bidders,” Chief Financial Officer Stephen Brown’s document says. He and then Chief Executive Officer Ted Starkman ran the sale process.

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